Economics 9708 · AS & A Level · Price elasticity of supply

Price elasticity of supply — practice question

A good’s supply function may be expressed as Q = 2P + 10, where Q denotes the quantity supplied in kilos and P denotes the price per kilo in dollars. The price increases from $10 to $15 per kilo. The value of price elasticity of supply for this price increase is in the range from

  • A6 1 to 4 1 .
  • B8 3 to 2 1 .
  • C3 2 to 4 3 .
  • D1 4 1 to 1 2 1 .

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